Mediolanum International Funds Ltd Increases Stock Position in Illinois Tool Works Inc. $ITW

Mediolanum International Funds Ltd boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 10.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,161 shares of the industrial products company’s stock after buying an additional 9,738 shares during the period. Mediolanum International Funds Ltd’s holdings in Illinois Tool Works were worth $26,964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. PAX Financial Group LLC boosted its holdings in shares of Illinois Tool Works by 11.5% in the third quarter. PAX Financial Group LLC now owns 1,126 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 116 shares during the period. Carrera Capital Advisors purchased a new stake in Illinois Tool Works during the 3rd quarter worth about $371,000. Transcend Capital Advisors LLC boosted its stake in Illinois Tool Works by 37.6% in the 3rd quarter. Transcend Capital Advisors LLC now owns 1,276 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 349 shares during the period. Thrivent Financial for Lutherans grew its holdings in Illinois Tool Works by 2.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 36,173 shares of the industrial products company’s stock valued at $9,433,000 after buying an additional 831 shares in the last quarter. Finally, Donaldson Capital Management LLC bought a new stake in shares of Illinois Tool Works during the third quarter valued at about $202,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $261.27 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $278.13. The firm has a market cap of $75.79 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 14.08 and a beta of 1.15. The business has a 50 day moving average price of $253.33 and a 200-day moving average price of $254.93.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Evercore ISI reduced their price objective on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research note on Monday, November 17th. Barclays boosted their price target on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research report on Monday, October 27th. Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $245.00 to $250.00 and gave the stock an “underweight” rating in a report on Wednesday, January 7th. Bank of America raised Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $220.00 to $255.00 in a research note on Tuesday, November 18th. Finally, Robert W. Baird set a $265.00 target price on Illinois Tool Works in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $261.08.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total value of $373,025.25. Following the sale, the director owned 39,249 shares of the company’s stock, valued at $9,625,817.25. This trade represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by insiders.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.